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  • Commentary: What Caused The Saudi-India Oil Rift?

    “This incident shows that there is not just the price of crude, but terms like shipping and flexibility of contracts which producers can push back on if importers try to diversify their source of supply,” said one India-based analyst as quoted by the Indian Express.

  • Indian refiners deepen cuts to Saudi oil purchases in May – sources

    Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked.

  • UAE projects power in India-Pakistan reconciliation talks

    After years of growing friction, India and Pakistan in recent weeks have moved towards somewhat of a detente, with a surprising interlocutor reportedly encouraging the two to bury the hatchet: the United Arab Emirates. Emirati involvement in South Asia is nothing new, yet Abu Dhabi appears to be taking a more significant diplomatic role, which analysts say is a chance for the wealthy Gulf country to further project power.

  • FTSE Puts India, Saudi Bonds on Watchlist for Possible Inclusion

    The index provider said it has been in talks with index users and regulators in Saudi Arabia to understand the market structure and investors’ experience. It will continue this interaction before its next country classification review in September 2021, it said.

  • Column: India and Saudi Arabia spar over oil prices

    Tensions this month between India and Saudi Arabia over rising oil prices have underscored the growing importance of the bilateral relationship and its potential to generate conflict as well as cooperation.

  • Africa can play central role in India’s oil diversification, says Dharmendra Pradhan

    India, the world's third biggest oil importer, has asked state refiners to speed up the diversification of oil imports to gradually cut their dependence on the Middle East after OPEC+ decided earlier this month to largely continue production cuts in April.

  • Secret India-Pakistan Peace Roadmap Brokered by Top UAE Royals

    Yet behind closed doors, the India-Pakistan cease-fire marked a milestone in secret talks brokered by the UAE that began months earlier, according to officials aware of the situation who asked not to be identified. The cease-fire, one said, is only the beginning of a larger roadmap to forge a lasting peace between the neighbors, both of which have nuclear weapons and spar regularly over a decades-old territory dispute.

  • US crude’s maiden sprint past Saudi makes it India’s flavor of the month

    "India's displeasure with rising oil prices in general and Saudi production cuts in particular has created a market opportunity for US crude at a time when US demand is still reeling from the pandemic -- and indeed may be permanently crippled by the wave of refinery closures triggered by COVID-19," said Antoine Halff, adjunct senior research scholar at Columbia University's Center on Global Energy Policy. "What remains to be seen is whether this marriage of convenience can last and whether Saudi Arabia will willingly cede market place to the US for the longer term," said Halff, who is also the founding partner and chief analyst at Kayrros.

  • India readies Saudi oil import cut as stand-off escalates

    Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC’s decision to ignore calls from New Delhi to help the global economy with higher supply.

  • U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4

    The United States overtook Saudi Arabia as India’s second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed.